DBS Bank India and CredAble Partner to Facilitate Commercial Finance for SME Ecosystem
CredAble has partnered with DBS Bank India to provide liquidity and improve current funding options for working capital needs. The partnership will help meet the capital needs for the day-to-day operations of SMEs, MSMEs and businesses in the corporate supply chain.
This alliance will structure innovative solutions for the ecosystem and allow beneficiaries to benefit from a range of programs. With this partnership, CredAble aims to address the working capital crisis and guide access to liquidity in supply chains across sectors.
Nirav Choksi, co-founder and CEO, CredAble, said: “We are delighted to partner with DBS Bank and create customizable solutions to address the working capital shortage in India. DBS Bank has a strong presence in trade and supply chain finance in all countries, primarily through working capital services for exports and SMEs. We believe that the entire ecosystem will experience increased liquidity with this association and that CredAble will be at the forefront of structuring innovative technology-based solutions.
Collaboration is an industry movement supporting the modern supply chain. Divyesh Dalal, Head of Global Transaction Services, DBS Bank India, said: “At DBS, we have always believed in building technology platforms and partnering with agile and like-minded players in the segment to provide innovative financing solutions to clients. We hope this partnership will equip supply chains with flexible and tailor-made solutions by leveraging CredAble’s technological prowess, making the entire process agile. Additionally, DBS’s rapid processing of funding requests will help meet supply chain requirements across a wide range of ecosystems. We will continue to work and innovate with CredAble to meet the ever-changing financing needs of various industries.
Choksi decoded the partnership and added, “We are integrating with the intention of expanding the possibilities of accessing credit according to the needs of the company’s supply chain. In addition to the current offerings, we also look forward to joint securitization and will be the first players in a range of facets, including purchase order financing, SME financing, tiered financing, and more. Given the current mandate, which has been fulfilled in less than a quarter, we see DBS Bank as our longer term partner.